29 March 2021


Phillips in Association with Bacs & Russo Announces

the Earliest Made and Previously Unknown

Patek Philippe Reference 2523 with Eurasian Dial

to be Auctioned in The Geneva Watch Auction: XIII


One of Only Three Examples of the Reference 2523

with Cloisonné Enamel Dial Representing the Eurasian Landmass



Patek Philippe

Reference 2523 in yellow gold with Eurasia landmass

Estimate: in excess of CHF 3,500,000


GENEVA – 29 March 2021 – Phillips in Association with Bacs & Russo has the honour of offering the  earliest made and previously unknown Patek Philippe yellow gold reference 2523 with cloisonné enamel dial, representing the Eurasian landmass. Estimated in excess of CHF 3.5 million, the watch is a leading highlight of The Geneva Watch Auction: XIII on May 8 and 9, 2021.


Aurel Bacs, Senior Consultant Bacs & Russo and Alex Ghotbi, Head of Watches, Continental Europe and Middle East, commented: “The present reference 2523 with cloisonné enamel dial is truly the end game for many collectors. Arguably, it is difficult to find a more abused term in the world of watch collecting, but this is the one instance where the word can be used with its original undiluted meaning: the present watch is - simply put - one of the most sought-after, unobtainable, attractive and fabled timepieces in the world; the only parallel in terms of pure watchmaking importance in the realm of wristwatches - without considering watches with provenance - can possibly be found in a stainless steel Patek Philippe reference 1518.”


Recently discovered in an important European collection, this timepiece is a time capsule, depicting an immaculate polychrome cloisonné enamel dial, rendered in fantastical hues of marine blue, gold, green and turquoise.


Of the eleven reference 2523 known with cloisonné enamel dials, five feature North America, three feature South America and three Eurasia. Of the three examples featuring the European and Asian continents, one is in the Patek Philippe museum, the other in a prominent private collection and the present, newly discovered example, fresh to the auction market.


Reference 2523 was first launched in 1953 and features an oversized-for-the-time 36 millimeter case, with two crowns and a city ring, which is an integral part of the dial rather than being engraved on the bezel. Two versions were available, with reference 2523 with larger lugs sitting above the bezel and reference 2523/1 with a slightly larger diameter and thinner lugs that do not sit above the bezel.


It has been close to two decades since the last reference 2523 with Eurasian map has appeared on the market, and the present watch will most probably be the last to be discovered and to grace the auction market in a long time.


Images of the Patek Philippe reference 2523 Eurasia dial: here





The Geneva Watch Auction XIII, Part I: 8 May 2021, 2pm

The Geneva Watch Auction XIII, Part II: 9 May 2021, 2pm


Auction Viewing


United States:

New-York 29 March-1 April

Location: Phillips New York Office, 450 Park Avenue, New York, NY 10022



Singapore 15-17 April

Location:  St. Regis Hotel, 29 Tanglin Rd - Singapore 247911


Hong Kong 20-23 April

Location: 14/F St. George’s Building, 2 Ice House Street, Central Hong Kong



London 7-9 April

Location: Phillips’ HQ, 30 Berkeley Square, London Geneva


Geneva: 4-9 May

Location: Hôtel La Réserve, Bellevue, Geneva


As viewings dates will slightly overlap, only a dedicated selection of highlights will be touring this season, some will be presented in Asia with others on view in Europe.







The team of specialists at Phillips Watches is dedicated to an uncompromised approach to quality, transparency, and client service, achieving a sale total of $133 million in 2020.


A selection of our recent record-breaking prices:


1. Paul Newman’s Rolex “Paul Newman” Daytona reference 6239 (CHF 17,709,894 / US$17,752,500) – New York Auction: Winning Icons – 26 October 2017 – Highest result ever achieved for any vintage wristwatch at auction.


2. Patek Philippe reference 1518 in stainless steel (CHF 11,020,000 / US$11,112,020) – Geneva Watch Auction: FOUR – 12 November 2016 – Highest result ever achieved for a vintage Patek Philippe wristwatch at auction.



Phillips is a leading global platform for buying and selling 20th and 21st century art and design. With dedicated expertise in the areas of 20th Century and Contemporary Art, Design, Photographs, Editions, Watches, and Jewelry, Phillips offers professional services and advice on all aspects of collecting. Auctions and exhibitions are held at salerooms in New York, London, Geneva, and Hong Kong, while clients are further served through representative offices based throughout Europe, the United States and Asia. Phillips also offers an online auction platform accessible anywhere in the world. In addition to providing selling and buying opportunities through auction, Phillips brokers private sales and offers assistance with appraisals, valuations, and other financial services.

Visit www.phillips.com for further information.

*Estimates do not include buyer’s premium; prices achieved include the hammer price plus buyer’s premium.


PRESS CONTACTS:            

GENEVA - Asta Ponzo, PR Consultant                              [email protected]                         +41 79 961 85 66

LONDON - Katie Carder, Head of Press, Europe              [email protected]                         +44 20 7901 7938



PHILLIPS NEW YORK - 450 Park Avenue, New York, NY 10022

PHILLIPS LONDON - 30 Berkeley Square, London, W1J 6EX

PHILLIPS HONG KONG - 14/F St. George’s Building, 2 Ice House Street, Central Hong Kong

PHILLIPS GENEVA - Rue de la Confédération, 7 Geneva 1204


VISIT US AT:  www.phillips.com/watches


FOLLOW US ON: Twitter | Instagram | Vimeo | Facebook | LinkedIn | Weibo| WeChat (use QR Code)